[Infostock Daily= Reporter An Hoe Hyun] Korea Investment & Securities raised its investment opinion 'BUY' and target stock price to 133,000 won for Daelim Industrial.
"The share price of Daelim Industrial has been sluggish since the announcement of the restructuring of the governance structure on the 10th," the company analyzed, adding, "In general, it is contrary to the fact that the personnel division, accompanied by division of business units, leads to reevaluation of each business division, which is considered a favorable factor."
"Considering that it withdrew large-scale U.S. ECC investment, which had been suggested as the basis for the conservative dividend policy, we are very disappointed by the insufficient shareholder return policy," the company said, adding, "It is still too early to be disappointed considering the need for approval of the split plan at the extraordinary shareholders meeting scheduled for December 4."
Daelim Industrial's shareholding rate of the national pension and foreign ownership is 53%, while Daelim Corporation's share is only 23%. As the date of the extraordinary shareholders meeting scheduled to be held on December 4, the shareholder return policy for persuading shareholders is expected to become more visible.
"Even if we apply a 50% discount on NAV(net asset value) applied to a holding company, the share price has a 64% increase potential compared to the appropriate value. Now that expectations for governance reform in stock prices have been eliminated, we recommend buying them because we believe that they are not burdensome to approach from a value-oriented perspective," the company explained.
Reporter An Hoe Hyun ahh@infostock.co.kr
